Cambridge Multifamily Property Sold For $3.08M By Buyer Cambridge-based LLC And Lender Reading Cooperative Bank

The property asset involved in the transaction is a two-family multifamily dwelling located at 23-25 Ellery Street in Cambridge, MA. It was sold for $3,080,000, with each unit priced at $1,540,000. The property is exemplified by its Second Empire architectural style.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $3,080,000
• Units: 2
• Seller: The Second Empire
• Lender: Reading Cooperative Bank
• Construction Mortgage Amount: $3,980,000

A Cambridge-based LLC was the buyer in this transaction, acquiring the property from The Second Empire. The financing for the purchase included a construction mortgage secured through Reading Cooperative Bank, indicating plans for further development or renovation.